Adani Enterprise share price, Adani Enterprise FPO: Adani Enterprises -- the flagship company of the Adani group -- will launch a follow-on public offer on January 27 to raise up to Rs Rs 20,000 crore.

Adani Enterprises FPO price band

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Adani Enterprises will sell shares under the public offer in a price band of Rs 3,112-3,276 apiece, according to a regulatory filing, which translates to a discount of 9-13 per cent to the stock price on Wednesday.

Important dates

The Adani Enterprises FPO will hit the Street on January 27, and close on January 31.

The offer price is at a discount to Wednesday's Rs 3,595.35 closing price of the stock on BSE.

The conglomerate plans to use the proceeds from the offer towards funding capex requirements of some of its group businesses and for general corporate purposes.

Fund utilisation

Green hydrogen projects, work at existing airports and construction of a greenfield expressway: Rs 10,869 crore.

Repayment of debts taken by its airports, road and solar project subsidiaries: Rs 4,165 crore.

Adani Enterprises FPO: Discount to retail investors

The company will offer a discount of Rs 64 per share to retail investors under the public offer.

Lot size

Potential investors will be able to bid in multiples of four shares under the FPO.

In November 2022, Adani Enterprises’ board had approved a decision to raise funds aggregating up to Rs 20,000 crore through the FPO route, through which it planned to dilute a 3.5 per cent stake.

Currently, the promoter group holds a 72.63 per cent stake in the company

“It will be a good opportunity to buy stocks in Adani Enterprises' FPO at a discounted valuation, from a retail investors perspective," according to Girish Sodani, Head of Equity Market at Swastika Investmart.

The stock has done remarkably well in the past, entering into new businesses and expanding its business at a rapid pace, he said.